The Westwood Little Holmby home at 850 Thayer Ave LA CA 90024 received a price reduction this week of 7.42% or $200,000, down to $2,495,000. Originally listed May 20th for $2,875,000, this is the 3rd price reduction of the current listing term. 65 days into the listing period, the home received the 1st reduction of $80k. 100 days into the listing period the 2nd price reduction came and 52 days after that, the 3rd reduction. This home was purchase as a major fixer last October for $1,645,000 and looks to have been remodeled with the intention of flipping the home. Walking thru the home, you feel like this is more of a flip than a custom remodeled home. The finishes are fairly basic with a contemporary flair and fall short of most buyers' expectations for a $3m home in Little Holmby. If this home was in another neighborhood with a lower price point, it would probably sell all day long. At least the home is in move-in condition and if you like the finishes, you wouldn't have to do a thing to it.

According to the MLS, the home is a 5 bedroom / 4 bath, on a 7,497 sq ft lot.

The Westwood home at 2360 Greenfield Ave, LA CA 90064 received a price reduction of 3.76% or $46,000, down to $1,179,000. Originally listed September 9th, 2013 for $1,225,000, this is the 1st price reduction of the current listing term. I would consider this house a major fixer or quite possibly a teardown property. There isn't anything exciting about any of the original charm, finishes or layout that I believe is worth keeping. Having said that, the house is very clean and it's not like someone couldn't live in the house and then decide to update or make changes as they go. Some teardowns are not really livable, like the home that just closed on Ohio in the south of Wilshire section. But this is. Will be interesting where this one goes out at.

According to the public records, the home is a 3 bedroom / 2 bath, 1,509 sq ft of living space on a 6,616 sq ft lot.

The Westwood home at 1839 Pandora Ave 90025 lasted about 12 days on the market before accepting an offer on 8/12/13. This property is essentially a heavy fixer or teardown type property. But what is special here is the LARD1.5 zoning which will allow someone to develop the property into 4 units. On a block with other multi family properties, this is probably the highest and best use. When done, the units will have great views of the Century City skyline.

On 10/16/13, 1839 Pandora Ave closed $80,000 or ~6.7% over the asking price at $1,275,000 |$916 $/sf|. According to the MLS, the home is a 2 bedroom / 1.75 bath, 1,392 sf of living space on a 6,970 sf lot.

The Westwood Hills home at 228 Tavistock, LA CA 90049 lasted about 17 days on the market before accepting an offer on 9/19/13. Once you walk up the set of stairs from the street level, this home sits all on one level. The home was remodeled extensively in the 90's and is in clean move in condition. The backyard has something you don't see everyday, in fact I don't think I have ever seen a 3 leaf clover shaped pool. Perfect for those St. Patty's holiday parties ;).
On 10/10/13, 228 Tavistock Ave closed $45,000 or ~2.5% under the asking price at $1,750,000. According to the MLS, the home is a 4 bedroom / 3.5 bath on a 7,311 sf lot. The MLS does not list the square footage of the house because their might be a discrepancy with the public records listed square footage (2,466 sf).

The Westwood home at 10365 Holman Ave LA CA 90024 received a price reduction of 2.26% or $45,000, down to $1,950,000. Originally listed at the end of June for $2,490,000, this is the 4th price reduction of the listing term. With roughly 4,600 sq ft of living space and a 9,000+ size lot, one would think this a no-browner for the price considering those square footages on paper. But as you know, Westwood is not a cookie cutter PUD (planned unit development) and every house is uniquely different. There are many nice elements to this rustic home, but I believe what is mainly holding it back from selling is the unique floorplan and lack of a large backyard for this size of house. At just over $400 a square foot, it's hard to argue this isn't starting to look like a value if the home and yard meet your needs.
According to the MLS, the home is a 5 bedroom / 5 bath, 4,600 on a 9,496 sq ft lot.

The Westwood home at 2256 Linnington Ave, LA CA 90064 lasted about 2 weeks on the market before accepting an offer on 8/23/13. This 20's Country English home has various upgrades done throughout the home, including a fully updated eat-in kitchen and was in move-in condition.

On 10/02/13, 2256 Linnington Ave closed $66,000 or ~5.1% over the asking price at $1,365,000 |$563 $/sf|. According to the MLS, the home is a 3 bedroom / 2.5 bath, 2,423 sf of living space on a 6,074 sf lot.

The Westwood Hills home at 160 Bronwood Ave LA CA 90049 received a price reduction of 5.85% or $155,000, down to $2,495,000. Originally listed April 8th, 2013 for $2,900,000, this is the 2nd price reduction of the current listing term. One thing that makes this particular house special is the 2 combined lots to make up a little over 18,000+ sf. That is huge lot for the area and is very rare for Westwood Hills. The house itself is just under 4,000 sf, according to public records and nicely laid out with good size public rooms for entertaining. The house sits on the western edge of the Westwood Hills, so you will pick up the ambient 405 freeway noise...especially from the yard.

According to the public records, the home is a 5 bedroom / 6 bath, 3,850 sq ft of living space on a 18,717 sq ft lot.